The Importance of Home Inspections

25.07.2015

Home Inspections are an integral part of the home buying process, and form one of the conditions of just about every Contract of Purchase and Sale. The Buyer has the right to have a home inspection done by a qualified inspector prior to officially purchasing the property, in order to have a clear view of what they are purchasing. The purpose of the home inspection is to confirm information dictated by the Seller and the Strata Council, and to find any other potential issues that may not be known to the average person.

Do you need a Home Inspection?

A building may look like it is good condition, but drilling down to the details can offer a different perspective on how the building components are performing and the quality of the build itself. For example: Is there any water ingress or high moisture readings in the unit? Was the flashing on the exterior installed correctly? Is a slight crack in the wall of the unit from settling, or something more serious? Does the building have premature issues in the parkade? Is the exterior gardening going to cause problems for  the exterior of the building in the future? Has the electrical wiring been installed correctly? Does the kitchen or bathroom require extra caulking and better venting? Is the boiler and hot water tank sufficient for the size of building? Is the house not level?

If the home inspector finds issues with the property that were not expected, the Buyer has a few options: either ask for a reduction in the price or ask the Sellers to fix certain items (the Seller does not have to agree), terminate the deal or go through with the purchase knowing they might need to put in their own maintenance. Buyers have to keep in mind that they will have to be reasonable (likewise, as do Sellers). Every building in the city that’s older than a few years will require some kind of maintenance in the short term, and the Seller won’t be reducing the price for age related, upcoming building maintenance, however a leaking dishwasher, incorrect electrical or cracks in the bathroom tile are reasonable issues to ask the Sellers to fix, prior to Possession day.

Pre-Inspection for Sellers

Every so often, prepared Sellers get a “pre-inspection” done which means they bring in a qualified home inspector to go through the property to catch any issues prospective Buyers might, and either fix them ahead of time or disclose them to prospective Buyers to ensure that there are no surprises later on. This can make the sale of the property easier, and gives Buyers a sense of confidence in what they’re buying.

Inspections are anywhere from about $400 and up, and are very worth the price. Even for newer buildings, the home inspection can shed light on how to best maintain the property while you own it, and how the building is designed to perform.

Our team has a few home inspections companies that we work with and can trust given their experience and track record.

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